Every house that the teams renovated on The Block 2024 ended up selling to Adrian Portelli at auction. Picture: Channel 9
The Block’s producer Julian Cress believes Adrian Portelli’s announced exit from the series will force contestants to lift their game in 2025.
After snapping up all five properties for more than $15 million, the internet billionaire — who gained notoriety (and the nickname “Lambo Guy”) when he breezed into the 2022 auction day in a flashy Lamborghini – has announced he won’t be back to bid when the show moves to Daylesford next year.
Serial buyer Danny Wallis also looks to be scaling back his property portfolio, walking away empty-handed for the second-year running, having previously purchased 11 houses with his signature erratic bidding style.
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Adrian Portelli pictured with Block producer Julian Cress. Picture: Instagram/adrian_portelli
. But Cress isn’t concerned about the impact of losing Portelli and Wallis’ guaranteed bids in 2025.
“We’ve enjoyed having Adrian Portelli on the ride for the last three years,” Cress said of the founder of LMCT+ (an auto enthusiasts’ club, which offers subscribers access to prizes such as luxury homes, cars and boats).
“It’s been great for contestants. But obviously our new crop of contestants that will be joining us in Daylesford soon are going to know coming in that they’re not going to be selling to Adrian Portelli, so they’re going to have to knuckle down and build some beautiful houses for some local families next year.”
Cress said hikes to the Victorian Government’s secondary home tax — as well as the Airbnb tax coming into effect in January — could also have an impact on all future auctions.
Danny Wallis, who has bought many properties on The Block in the past, did not get close to buying any this season, after saying he was selling his Victorian homes because ‘land taxes are way too dear these days.’ Picture: Jake Nowakowski
“Interest rates haven’t gone down either and that’s why we were all feeling a little gloomy in the last month in the lead up to this auction,” he said.
“That’s why we were nervous today [ahead of the auctions].”
He needn’t have worried. With all five properties selling for more than $650,000 above their reserve, Cress said 2024 has now proven to be “the most successful” year in Block history. And, while Portelli walked away with all five homes, there were more genuinely interested buyers in the room than had been for many years prior.
“I think we gave away more money today than we have in the previous 19 seasons, which is awesome,” he enthused.
The sale of all five houses on auction day this year was a great vindication for Cress after many questioned whether the seaside town located 1.5 hours from Melbourne was the right place to attract a large pool of buyers.
The Block 2024 auctions ended up being hugely successful, giving away $5.43 million in total winnings, after many had speculated about whether or not the homes would sell. Pictures: Channel 9
It was further questioned after the mixed bag of results in 2023 that saw Steph and Gian claim a whopping $1.75 million prize — but Kristy and Brett took just $65,000, and Leah and Ash’s home passed in, languishing on the market for months afterwards.
“Any development is a risk,” Cress shrugged.
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“With the help of some wonderful support from sponsors, we are able to build the houses to a very high level. And that does give us some protection when we’re selling them.
“And of course, let’s face it, the network isn’t here to make a profit in building houses. The network makes its money selling advertising.
“So, we all feel as a network that we got a lot out of it. A lot of people watched it. The advertisers are happy. So, let’s make the contestants happy. And Adrian Portelli sure has helped.”
Scott Cam points to two factors that made these auctions so successful
Scott Cam pictured at the auction reserve reveal prior to the 2024 auctions. Picture: Supplied (Strictly embargoed until 9:15pm 10/11/2024)
Host Scott Cam believes the location — coupled with the lower price point of the properties — had attracted more interest from prospective buyers this year.
“Some of them had eight buyers, others had 10, and if we had two in the past … or even one, really … we would be happy,” Cam said.
“We had families coming in looking to buy one until Adrian [swept in].
“Look it’s a great blue collar holiday destination as opposed to a white collar one like Sorrento or Portsea.
“There’s lots of footy shorts and thongs and fishing boats and caravans. That’s my sort of holiday.”
Portelli says Phillip Island not his top holiday destination, despite buying five homes
With a net worth of $1.3 billion, Portelli admitted Phillip Island wouldn’t be “first on the holiday destination list” but he’d spent time at the MotoGP track over the years.
Adrian Portelli with his son and Julian Cress at the auctions in Phillip Island. Picture: Instagram/adrian_portelli
His interest in snapping up the five homes was to secure “the royal flush” for his final hurrah.
In addition to the five houses he bought this year, Portelli has previously spent more than$16 million buying four other houses on the show.
He bought three on Charming St in Hampton East last year, and he dropped $4.25m on Sharon and Ankur’s Gisborne house in 2022.
“I think this is the final one [auction day],” he said.
“So, I’m going to hang the boots up and go out with a bang. So, I did.”
Take a tour of every house featured on The Block below
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sarah.petty@news.com.au
The post The Block 2024 auctions: Adrian Portelli is done with the show after buying all five homes, producers brace for new challenge in 2025 appeared first on realestate.com.au.
